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Home 🌿 Recreational Marijuana News 🌿 Marijuana is tax-free in Colorado today thanks to an accounting error 🌿Marijuana is tax-free in Colorado today thanks to an accounting error
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The subscription service is currently unavailable. Please try again later.Marijuana consumers were taking advantage of a tax holiday in Colorado on Wednesday, with some lining up early for doorbuster-style deals.
A quirk in state law led Colorado to suspend most taxes on recreational pot for one day, including a 10 percent sales tax on pot and a 15 percent excise tax on marijuana growers.
At The Grass Station near downtown Denver, a dozen shoppers were in line before doors opened.
"Lower prices are always better," said Benjamin DelCarpio of Centennial, who was rewarded for standing in line with a 50 percent off coupon.
The tax break is happening because Colorado underestimated overall state tax collections last year. Under the state Constitution, the accounting error triggers an automatic suspension of any new taxes — in this case, the recreational marijuana taxes voters approved in 2013.
Retailers are hoping for big crowds, rolling out bargains to attract shoppers. The state had...
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